Daily Market Analysis 08 Sep 2022

Daily Market Analysis 08 Sep 2022

  • Market News
  • Daily Market News
  • 2022, 08 September

AUD/USD

Technical Outlook

AUD/USD pair has taken a support at its previous swig low & bounced back from it. The pair is still bearish, and we have to wait for the confirmation before entering into any trade on either side. A close below its recent lows, will put this pair into grave, with more downside to come. Although if, certain levels break on the higher side, will change the course of this continuation trend.



Technical Indicators
Action
RSI (38)
SELL
Oscillator (17)
SELL
MACD (Below Midline)
SELL
200 EMA (0.7115)
SELL


Strategy


Scenario 1 
Scenario 2 
Action
Sell
Sell
Entry
0.6760
0.6770
Target 1
0.6730
0.6740
Target 2
0.6700
0.6710
Stop Loss
0.6790
0.6800


Key Signposts

AUD: Balance of Trade

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